But Disney’s not the only big media company that’s done well recently — this blog’s mother ship, News Corp. (NWS), is up 45% in the past year, while Time Warner (TWX) is up about 35%; Time Warner Cable (TWC) and Comcast (CMCSA) are both up more than 50% since a year-ago, with the latter hitting an all-time at one point yesterday.

The sector’s trend is clear, though there’s no one reason for the improvement. Much of it, of course, is companies recovering from the depths of the recession — media companies, reliant on advertising, are more vulnerable than most to economic headwinds. Disney’s stock, trading at about $52 today, hit $15 in late 2008.

But there are other factors: Domestic box office revenue hit a record $10.8 billion last year, powered by gains in movie theater attendance, which rose 6% after a two-year decline, according to MKM Partners. And big media companies are also being bolstered by the immense value of sports rights, which continue to climb. Disney benefits enormously thanks to its ownership of ESPN, of course, but overall most broadcasters and cable companies are enjoying the large role sports play in drawing advertisers and supporting (and passing along) the cost of cable to subscribers.

There are headwinds, of course, not least the question of how much cable can keep raising rates before customers cut the chord. We’ll see if Disney’s stock can get near its 2012 performance this year, but for what it’s worth, the majority of Wall Street analysts have a Buy rating on it, even after last year’s run-up, albeit with a consensus target price of $54.40, only about 4% above today’s price.

About Stocks To Watch

Earnings reports, corporate strategies and analyst insights are all part of what moves stocks, and they’re all covered by the Stocks to Watch blog. We also look at macro issues, investor sentiments and hidden trends that are affecting the market. Stocks to Watch gives you the full picture of the U.S. stock markets, all day long.

The blog is written by Ben Levisohn, a former stock trader who has covered financial markets for the Wall Street Journal, Bloomberg and BusinessWeek.